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Business Performance of MSMES in Traditional Market: an Analysis of Strategic Management Aspect
Abstract
Objective: This study aims to analyze the business performance of MSMEs in the Bahulak Market, Karungan Plupuh, Sragen, from a strategic management perspective.
Method: This study used a quantitative approach. The primary data source was obtained by distributing questionnaires to business people and MSME owners in Karungan Village, Plupuh, Sragen. The population that became this study’s target were MSMEs registered in Karungan Village with a total of 74 businesses. The sampling technique applied was simple random sampling. Data analysis employed a structural equation modeling (SEM) approach.
Findings: This study successfully concluded that the production strategy, HR strategy, and development research strategy affected business performance. Besides, business actors in the Bahulak Market, Plupuh Sragen, still need assistance from various related parties to further develop the running business.
Contribution: This research is crucial to do to encourage Bahulak Market Tourism Village, including the products produced, to be absorbed by the market. This study’s results are expected to provide an evaluation of strategic management practices that have been carried out by business actors who are members of BUMDES Sinar Karungan Mandiri and motivate them to develop according to market demands. The results of this study are also expected to be used as input for various related parties who will assist MSMEs to maximize their business performance.
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